IBM to layoff 3,900 jobs

The international Business Machines (IBM) has joined the wave of companies conducting layoffs, saying it would cut about 3,900 jobs, the Wall Street Journal said. The job cuts will stem from Kyndryl Holdings, the IT services business that IBM spun off last year, and its healthcare divestiture, from which the company will incur about a USD 300 million charge, an IBM spokesperson told WSJ. The layoffs would amount to a 1.4 per cent reduction from its headcount of 2,80,000 according to the IBM's latest annual report.